PAREA: Darn the torpedoes / 3 Sheets to the Wind

[Non Sequitur]

The proposed PAREA system is one where folks who are SPECIFICALLY TRAINED in training others how to be appraisers are the ones providing the training.

Please provide a cite. Everything I've read pertaining to PAREA only mentions an optional mentor, nothing about the mentor's training or licensing requirements, and nothing in terms of a formal relationship (i.e. registered with the state as a mentor) between the PAREA noob and mentor.

 

[alebrewer]

Please provide a cite. Everything I've read pertaining to PAREA only mentions an optional mentor, nothing about the mentor's training or licensing requirements, and nothing in terms of a formal relationship (i.e. registered with the state as a mentor) between the PAREA noob and mentor.

As far as I know, there's only one group who is remotely close to having a PAREA program in place, and that is the AI. While I'm not a member of the AI, I have nothing but respect for their education programs. In light of which, my opinion would be that getting your experience through an AI PAREA program will most likely be more beneficial/educational than a year with some appraiser that's been credentialed for 3 years...

Add on top of that that folks wanting to enter the profession cannot find anyone to train them. Folks who do not train trainees should not have any input into the efficacy of the PAREA program. They're the reason there IS a PAREA program.

Citation here:

https://www.appraisalinstitute.org/service/FAQ/#576

 

[Elliott]

The only difference between a conventional appraisal class and the PAREA classes will be the VR hoods and it will be hailed as the 'great leap forward' (an old Chairman Mao term). I would guess that only about 5 to 15 minutes an hour will be 'under the hood' because of the VR nausea.

(sorry about the multiple uploads--'nothing works here')--See VR photo below.

 

[Non Sequitur]

As far as I know, there's only one group who is remotely close to having a PAREA program in place, and that is the AI. While I'm not a member of the AI, I have nothing but respect for their education programs. In light of which, my opinion would be that getting your experience through an AI PAREA program will most likely be more beneficial/educational than a year with some appraiser that's been credentialed for 3 years...

Add on top of that that folks wanting to enter the profession cannot find anyone to train them. Folks who do not train trainees should not have any input into the efficacy of the PAREA program. They're the reason there IS a PAREA program.

Citation here:

https://www.appraisalinstitute.org/service/FAQ/#576

AI is so far behind I doubt they will ever get it off of the ground, even with the money TAF gifted them.

As far as the who, I can't say. But I've been approached by a national AMC to be a mentor and they claim their proprietary course is currently being reviewed for approval, possible roll out this summer.

As far as the reason PAREA was slammed down our throats, I flat out disagree with your opinion. The person who almost single handedly developed this thing over the prior 5 or so years left his job with a bag of money right when PAREA was approved by the AQB to become the chief appraiser at one of the oldest/largest AMC's in existence. The old term "cui bono" applies with PAREA. Large AMCs will have their programs spitting out staff long before the AI rolls out their "buy in" to the appraisal profession class, and the names associated with those AMCs were heavily involved. The AI was absent and by the time they roll anything out I doubt if anyone will cough up the sure to be sky high tuition to "buy in" on the residential side.

And again, there is no official mentor criteria or requirement to have one at any point in the PAREA process before or after.

 

[shrubberyvaluation]

As far as I know, there's only one group who is remotely close to having a PAREA program in place, and that is the AI. While I'm not a member of the AI, I have nothing but respect for their education programs. In light of which, my opinion would be that getting your experience through an AI PAREA program will most likely be more beneficial/educational than a year with some appraiser that's been credentialed for 3 years...

Add on top of that that folks wanting to enter the profession cannot find anyone to train them. Folks who do not train trainees should not have any input into the efficacy of the PAREA program. They're the reason there IS a PAREA program.

Citation here:

https://www.appraisalinstitute.org/service/FAQ/#576

I see where you are coming from, but nothing can replace being in the field and writing up reports. People don't know what they don't know and they don't know what the most important aspects they should be retaining from the classes.

 

[alebrewer]

I see where you are coming from, but nothing can replace being in the field and writing up reports. People don't know what they don't know and they don't know what the most important aspects they should be retaining from the classes.

Agreed - and that just comes with experience. I really believe the PAREA folks will probably be 'entry level better' than most folks who are trained by Jim Bob, but to your point - it's when folks get into the real world 'on their own' that they really start to develop. IMO - that's when folks need a network of people to assist. Much like this board. I still field about 5-10 calls a week from folks I've mentored who run into 'new' scenarios...

 

[shrubberyvaluation]

AI is so far behind I doubt they will ever get it off of the ground, even with the money TAF gifted them.

As far as the who, I can't say. But I've been approached by a national AMC to be a mentor and they claim their proprietary course is currently being reviewed for approval, possible roll out this summer.

As far as the reason PAREA was slammed down our throats, I flat out disagree with your opinion. The person who almost single handedly developed this thing over the prior 5 or so years left his job with a bag of money right when PAREA was approved by the AQB to become the chief appraiser at one of the oldest/largest AMC's in existence. The old term "cui bono" applies with PAREA. Large AMCs will have their programs spitting out staff long before the AI rolls out their "buy in" to the appraisal profession class, and the names associated with those AMCs were heavily involved. The AI was absent and by the time they roll anything out I doubt if anyone will cough up the sure to be sky high tuition to "buy in" on the residential side.

And again, there is no official mentor criteria or requirement to have one at any point in the PAREA process before or after.

I agree, this is for our potential clients who need cheap inexperienced appraisers to hit bullseyes.

 

[alebrewer]

AI is so far behind I doubt they will ever get it off of the ground, even with the money TAF gifted them.

As far as the who, I can't say. But I've been approached by a national AMC to be a mentor and they claim their proprietary course is currently being reviewed for approval, possible roll out this summer.

As far as the reason PAREA was slammed down our throats, I flat out disagree with your opinion. The person who almost single handedly developed this thing over the prior 5 or so years left his job with a bag of money right when PAREA was approved by the AQB to become the chief appraiser at one of the oldest/largest AMC's in existence. The old term "cui bono" applies with PAREA. Large AMCs will have their programs spitting out staff long before the AI rolls out their "buy in" to the appraisal profession class, and the names associated with those AMCs were heavily involved. The AI was absent and by the time they roll anything out I doubt if anyone will cough up the sure to be sky high tuition to "buy in" on the residential side.

And again, there is no official mentor criteria or requirement to have one at any point in the PAREA process before or after.

Perfectly fine to disagree. However, had more trainees been adopted by supervisory appraisers over the years, there would not have been a perceived shortage of appraisers, thus we'd probably not have even seen PAREA developed. Of course that is speculation - just like your assertions...

 

[Elliott]

 

[George Hatch]

As I see it, "education" is supposed to occur in the QE/CE. "Experience" isn't education although it does have the added benefit of enabling the individual to expand their competence. That makes the supervisor's technical competency - beyond the basics of the QE - irrelevant.

Again and as I commented before, operating as an appraiser requires more than just the technical competency in appraising. Just as the COMPETENCY RULE only touches on half of the role of the appraiser in our appraisal standards, technical competency only touches on half the skills it takes to operate as an appraiser.

I highly doubt a PAREA program can or will prepare trainees how to effectively deal with the constant assault on their ethical requirements to the similar extent as operating in live assignments.